Question

Transaction Review- Action Items Understanding the Workflow

  • 26 January 2024
  • 6 replies
  • 33 views
C

I want to make sure I understand the Transaction Review / Action Items workflow. Am I correct in my assumption that Transaction Review will only show transactions from the accounts that are set up in the Transaction Review screen Settings??

What if I have a transaction that IS categorized, but because of its size or other issues, I want the client to review it to verify that it is in the correct category? If I add the category to Settings that the transaction is posted in, do I then have to go through every one of the transactions in that category to find the one to send to the client?

You may ask “Why categorize it if you aren’t sure?” Well, if we did not categorize transactions that we were not 100% sure about, we could have over half of the client’s monthly transactions in uncategorized. That would certainly irritate the client and would make it appear that we have no experience or knowledge to make educated assumptions about categorization. 

So is there a plan to allow me as the accountant, to categorize a transaction in QBO, but make it an Action Item for the client to bring it to their attention? Perhaps filter by transaction size, date, vendor, category so that I can manually isolate material transactions that need review? 

If I understand the current workflow, Transaction Review & Action Items do nothing for our clients. This feature could be tremendously valuable, but right now, it isn’t (to my team at least).

6 replies

Michael
Userlevel 5
Badge +3

Hey @Caroline Devoy Thanks for the detailed feedback and for sharing how you currently do transaction reviews. The team is curious, how often are you flagging a transaction to one of your clients due to size, date, etc? 

C

I would estimate that on the average client / average month, we flag 2 or 3 transactions that we would like confirmation on. Obviously, it depends on the client, but I also find if we give them more than 2 or 3 at a time, they don’t get looked at. That’s why we do as much categorizing as we can without their help and save their attention for the most important items.

Michael
Userlevel 5
Badge +3

Thanks @Caroline Devoy and apologies for the delay in responding to you. Transaction Review is focused on items that have not been categorized. Flagging transactions due to size, date or those other factors isn’t on our roadmap at the moment, but I have shared your use case with our product team. I will keep you updated if we start building this out. 

C

Thank you for the reply. I think someone else added this in the posts, but it would be great if this client portal had the flexibility to handle anything we wanted to throw at it. Not as ominous as it sounds- I’m thinking a simple text box that can be included in the “Action Items”. Then I can use it not just for transactions that Digits identifies, but ones I identify. I don’t even know if I care if I can link to the QBO transaction- if I can describe it to the client and get their feedback, that would be helpful.

For example, “Large deposit of $50,000 on 5/4. Was that an equity investment?”, or “$5,000 purchase from Apple in Office Supplies. Would you like us to move that to Fixed Assets?”

Then the client has one place to go to respond to questions and see what is not yet resolved.

Michael
Userlevel 5
Badge +3

Hey @Caroline Devoy I just thought of a workaround that may do the trick for you. Hold tight while I make a short video showing this. 

Michael
Userlevel 5
Badge +3

As promised @Caroline Devoy a short video to see if this will work for ya!

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